Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 24,266, 9,558 total housing units (homes and apartments), and a median house value of $403,356, Palm City house prices are not only among the most expensive in Florida, Palm City real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Palm City, accounting for 69.88% of the town's housing units. Other types of housing that are prevalent in Palm City include row houses and other attached homes ( 12.47%), large apartment complexes or high rise apartments ( 10.90%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.70%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Palm City. Owner-occupied housing accounts for 82.64% of Palm City's homes, and 63.75% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Palm City built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Palm City built between 2000 and later ( 19.11%). A lesser amount of the housing stock also hails from between 1940-1969 ( 4.88%).
Vacant housing appears to be an issue in Palm City. Fully 15.36% of the housing stock is classified as vacant. Left unchecked, vacant Palm City homes and apartments can be a drag on the real estate market, holding Palm City real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Palm City's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Palm City during the period has been just -1.31%, which is lower than 70% of US communities.
Appreciation rates are so strong in Palm City that despite a nationwide downturn in the housing market, Palm City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Palm City appreciation rates continue to be some of the highest in America, at 7.74%, which is higher than appreciation rates in 85.50% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Palm City. Palm City appreciation rates in the latest quarter were at 1.44%, which equates to an annual appreciation rate of 5.88%.
Relative to Florida, our data show that Palm City's latest annual appreciation rate is lower than 50% of the other cities and towns in Florida.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Palm City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Palm City - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Palm City real estate investment or home purchase decisions.
|$1,028,001 - $1,371,000||1.8|
|$686,001 - $1,028,000||8.5|
|$549,001 - $686,000||10.0|
|$411,001 - $549,000||20.2|
|$274,001 - $411,000||24.2|
|$137,001 - $274,000||26.0|
|$68,001 - $137,000||5.7|
|$0 - $68,000||1.4|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Palm City HOMES|
|2000 or Newer||19.1|
|1970 - 1999||75.1|
|1940 - 1969||4.9|
|1939 or Older||0.9|
|TYPE OF Palm City HOMES|
|Small Apt. Buildings||6.7|
|SIZE OF Palm City HOMES|
|5 or more bedrooms||4.93|